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Cleveland-Cliffs CLF Eliminations — Cost of Product and Service Sold

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$4.89B-0.2%
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$154M+0.7%

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Other financials

Income statement

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Revenue$4.9B+6.3%
Gross profit-$82.0M+79.3%
Operating income-$213.0M+60.8%
Net income-$229.0M+52.9%
EPS (diluted)-$0.42+58.4%

Balance sheet

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Cash & equivalents$45.0M-21.1%
Total debt$7.8B+2.1%
Total equity$5.8B-6.9%
Total assets$20.1B-3.5%

Cash flow

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Operating cash flow-$325.0M+7.4%
CapEx$152.0M0.0%
Free cash flow-$477.0M+5.2%

Valuation

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Market cap$7B+18.6%
Enterprise value$14.72B+8.0%
P/S0.4×+0.1×

Profitability

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Gross margin-2.9%
Operating margin-6.6%-0.2pp
Net margin-6.2%0.0pp
FCF margin-5.3%-0.3pp

Returns & leverage

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Return on equity-19.3%+3.1pp
Debt / equity1.3×+0.1×
Current ratio-0.1×

Where this comes from

Reported directly by Cleveland-Cliffs in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The official record: Cleveland-Cliffs’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cleveland-Cliffs's eliminations — cost of product and service sold?
Cleveland-Cliffs (CLF) reported eliminations — cost of product and service sold of -$42M in Q1 2026.
How has Cleveland-Cliffs's eliminations — cost of product and service sold changed year-over-year?
Cleveland-Cliffs's eliminations — cost of product and service sold decreased by 50.0% year-over-year, from -$28M to -$42M.
What is the long-term trend for Cleveland-Cliffs's eliminations — cost of product and service sold?
Over 3 years (2022 to 2025), Cleveland-Cliffs's eliminations — cost of product and service sold has grown at a 6.9% compound annual growth rate (CAGR), from -$90M to -$110M.
What does eliminations — cost of product and service sold mean?
This metric captures the cost of goods sold adjustments necessary to remove the impact of intercompany transactions during consolidation. It ensures that the cost of products transferred between segments is not overstated at the consolidated level. It is essential for accurately assessing the true production costs of the enterprise.